The global smart gas meter market is foreseen to reach USD 10.92 billion by 2026, displaying a CAGR of 6.3% between 2019 and 2026. This is attributable to the increasing demand for energy from residential, industrial, and commercial purposes. Gas is a primary necessity in every household for various applications such as room heating, water heating, or cooking, and others. Gas meters allow having a transparent reading of the amount of energy used, thus avoiding unaccounted consumption and evaluation of monthly tariffs. Such advantages offered by smart gas meters are likely to bode well for the market, thus promoting the smart gas metering market trends in the forecast duration.
The report published by Fortune Business Insights™ titled, “Smart Gas Meter Market Size, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading) By Application (Residential, Industrial, and Commercial), and Regional Forecast, 2019-2026” provides a comprehensive analysis on the market and its major growth trajectories. As per this report, the market stood at USD 6.76 Billion in 2018.
According to the report, increasing investments in smart grid infrastructure and smart cities is projected to boost the global smart gas meter market during the forecast period. Additionally, the ongoing development of gas pipeline networks, rising government regulations and policies in emerging countries, and enhanced customer service are expected to contribute to the growth of the global market.
The report offers an elaborate study of the global smart gas meter market along with the key developments and current market trends. It further provides information regarding growth drivers, obstacles, key market players, and opportunities.
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Highlights of the Report
- A comprehensive overview of the smart gas meter market
- Prime emphasis on growth trajectories such as growth drivers, restraints, challenges, and opportunities
- List of segments in the market and the names of leading segments
- List of significant players in the market and key strategies adopted by them to stand out in the competition
- Key industrial developments
- Interesting insights and other smart gas meter market trends
An Overview of the Impact of COVID-19 on this Market:
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AMR Segment to Dominate the Global Market Owing to its Cost-effective Nature
In terms of type, the global smart gas meter market is grouped into advanced metering infrastructure (AMI) and automatic meter reading (AMR). Out of these, AMR is capable of collecting diagnostic, status data, and consumption from energy metering devices and water meter automatically. It then sends the data to a central database for analyzing, troubleshooting, and billing. A benefit of AMR is that it is cost-effective than AMI and hence, it is projected to lead the global smart gas meter market during the forecast period.
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